"Google has begun inviting mobile website developers to display Google ads on their sites as part of a limited beta test. The offer extends to the mobile environment Google�s AdSense programme which lets website owners earn revenue by placing advertisements on their sites. Google runs the backend network that places ads on the sites relevant to site content. Site owners earn revenue when visitors click on the ads."
This is an incredible cool milestone for all Google AdSense users. I have been a big AdSense user for a while now and have been looking for ways to convert mobile traffic to revenue. At the moment, this technology is only compatible with XHTML (Extensible HTML), CHTML (Compact HTML) and WML (Wireless Markup Language) which covers a large majority of markup that is used by mobile developers. If you host a mobile site, I highly suggest trying to get in on this beta program!